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CUSMA Not Renewed: What the Trade Deal Impasse Means for Your Wallet

  July 2, 2026 | Trade & Economy The mandatory six-year review of Canada's most important trade agreement came and went this week — and it did not go the way Ottawa hoped. On July 1, U.S. Trade Representative Jamieson Greer confirmed that the United States will not renew the Canada-United States-Mexico Agreement (CUSMA) in its current form, sending the deal into a more uncertain, year-by-year footing right as Canadians are already navigating tariffs, a soft labour market, and a technical recession. Here is what actually happened, why it matters, and what it could mean for your budget in the months ahead. The short version CUSMA isn't dead. It remains legally in force until 2036. But instead of locking in a fresh 16-year term, the deal now shifts into annual reviews, with existing tariffs on steel, aluminum, autos and softwood lumber unresolved for now. What happened on July 1 CUSMA was built with a mandatory joint review every six years. If Canada, the U.S. and Mexico had a...
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Hezbollah Fires Rockets into Israel as Blinken Arrives for Ceasefire Talks

Hezbollah launched a series of rockets into Israel early Tuesday morning, targeting key military bases near Tel Aviv and a naval base west of Haifa. This escalation comes amid heightened tensions and ongoing Israeli strikes on southern Lebanon and Beirut’s southern suburbs.

The rocket attacks occurred just hours before U.S. Secretary of State Antony Blinken landed in Israel. Blinken’s visit aims to push for a ceasefire in the conflict, which has seen significant casualties and destruction on both sides. Despite these diplomatic efforts, achieving an immediate resolution remains challenging due to deep-seated divisions between the parties involved..

As the situation develops, the international community continues to call for restraint and a peaceful resolution to the conflict.


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